UK interest rates could start rising before next spring – but "in baby steps" – and are likely to settle at about 3% in a few years' time, the Bank of England's outgoing deputy governor has predicted.
Only a few days ago, the "rock star" economist Thomas Piketty had the world at his feet. He had lectured at the White House, the International Monetary Fund and the United Nations.
A "clumsy" unwinding will have a very negative effect on the world economy, OppenheimerFunds CEO Bill Glavin told CNBC.
The outgoing deputy governor of the Bank of England has warned that the UK faces a bumpy recovery with rising interest rates likely to trigger shocks along the way.
The record level of growth seen in the U.K. housing market slowed in March after new data showed an 8 percent rise in property prices year on year, down from the 9.2 percent recorded in February.
A few months ago, economists suspected further stimulus from the Bank of Japan was likely this year to help take the sting out of a rise in Japan's sales tax. That prospect now looks less likely as the economy is showing signs of holding up well.
Over half of homes in the U.K. will be rented in 18 years' time, if the country's property boom continues at its current pace, new research shows.
Some more good news for the U.K. economy as unemployment fell to its lowest level in over five years, and wage growth rose by more than inflation.
Bank of England (BoE) Governor Mark Carney played down expectations of an early rate hike, despite signs of a pickup in the U.K.'s economic recovery.
Bitcoin has been slowly fighting its way to mainstream respectability in the past year.
The International Monetary Fund has urged the UK to ease back on austerity should the economy slow further, as it warned finance ministers at the G20 summit in Shanghai to boost public spending on infrastructure to fuel global growth.
The risk of the global economy falling into a recession is rising as fundamentals remain poor, analysts at Citigroup said in a note Wednesday.
It's safe to say HSBC has come off the fence when it comes to Brexit, predicting what can only be described as a Brexocalypse. Just don't try saying that out loud.